Mortgage Banking

Founded in 1939, Mortgage Banking Magazine is a professional trade magazine published by Mortgage Bankers Association of America. Its headquarters are located in Washington, D.C. The magazine is published monthly and serves the banking, real estate and financial markets. Janet Hewitt is the editor-in-chief.

Articles from Vol. 71, No. 10, July

50 States by Appreciation Rate
50 States by Appreciation Rate (March 2011 Data, Ranked Worst to Best in Percent Decline from Peak--Includes District of Columbia) Rank State Peak % Decline 12-Month HPI Month Since Peak Change ...
A Better Way Forward
As numerous industries still work to recover from the credit crisis and related fallout, no one faces a more difficult uphill battle than mortgage bankers. The lending environment they inherited after this tumultuous period is marked by significantly...
A la Mode Launches UMDP Training for Lenders and AMCs
Oklahoma City--based a la mode Inc. is running a summer schedule of lender and appraisal management company (AMC) Web-based training courses in preparation for the government-sponsored enterprises' (GSEs') Uniform Mortgage Data Program (UMDP). The...
A la Mode Launches UMDP Training for Lenders and AMCs
Oklahoma City-based a la mode Inc. is running a summer schedule of lender and appraisal management company (AMC) Web-based training courses in preparation for the government-sponsored enterprises' (GSEs') Uniform Mortgage Data Program (UMDP). The full...
A Really Hard Year
As lenders brace for the lowest home loan volume in 14 years, an industry ponders the challenge of producing under difficult circumstances.No one could quite put their finger on why, but there was palpable optimism at the Mortgage Bankers Association's...
A Really Hard Year: As Lenders Brace for the Lowest Home Loan Volume in 14 Years, an Industry Ponders the Challenge of Producing under Difficult Circumstances
No one could quite put their finger on why, but there was palpable optimism at the Mortgage Bankers Association's (MBA's) Annual Convention & Expo in Atlanta last year. Indeed, attendance was a bit higher than the previous year and the U.S. real...
Average Age of U.S. First-Time Buyers Climbs to over 31 Years Old
Genworth Financial Inc., Richmond, Virginia, debuted a new international mortgage survey and one of the findings was that in the United States, the average age of those buying a first home rose to 31.6 in the 2000s versus 27.3 in the 1970s. The...
Average Age of U.S. First-Time Buyers Climbs to over 31 Years Old
Genworth Financial Inc., Richmond, Virginia, debuted a new international mortgage survey and one of the findings was that in the United States, the average age of those buying a first home rose to 31.6 in the 2000s versus 27.3 in the 1970s.The Genworth...
Beige Book: Slow to Moderate CRE Recovery
Most districts in the past few months observed a moderate commercial real estate recovery, reported the June Federal Reserve Beige Book. The Boston district reported some easing in commercial real estate lending, but a few contacts said fiscal conditions...
Biography of a Dream
Whenever people talk about the American dream, a house and a backyard are usually at the center of the picture. * It wasn't always this way For much of American history homeownership tended to be a fairly low priority historians say The very wealthy...
BrokerPriceOpinion.com Launches New Retrospective BPO Report
Westminster, Colorado-based BrokerPrice Opinion.com, a nationwide provider of collateral valuation solutions that apply customized scoring, analytics and client-specific business rules, has launched its Retrospective Broker Price Opinion (BPO) report....
BrokerPriceOpinion.com Launches New Retrospective BPO Report
Westminster, Colorado-based BrokerPrice Opinion.com, a nationwide provider of collateral valuation solutions that apply customized scoring, analytics and client-specific business rules, has launched its Retrospective Broker Price Opinion (BPO) report....
Comment Period Extended to August for QRM Rule
Responding to widespread calls for changes to a proposed risk-retention rule under the Dodd-Frank Wall Street Reform and Consumer Protection Act, six federal regulatory bodies extended the initial comment period on the rule by 52 days to Aug. 1. The...
Comment Period Extended to August for QRM Rule
Responding to widespread calls for changes to a proposed risk-retention rule under the Dodd-Frank Wall Street Reform and Consumer Protection Act, six federal regulatory bodies extended the initial comment period on the rule by 52 days to Aug. 1. The...
complianceEase Launches RESPA Auditor 2.0
Burlingame, California-based ComplianceEase, a provider of mortgage-compliance and risk-management solutions, has launched version 2.0 of its automated Real Estate Settlement Procedures Act (RESPA) disclosure compliance solution, RESPA Auditor[TM]....
ComplianceEase Launches RESPA Auditor 2.0
Burlingame, California-based ComplianceEase, a provider of mortgage-compliance and risk-management solutions, has launched version 2.0 of its automated Real Estate Settlement Procedures Act (RESPA) disclosure compliance solution, RESPA Auditor(TM).Since...
Comprehensive Appraisal Management Integrated into Xetus' Loan Management System
The integration of Palo Alto, California-based Xetus' Xetus One Loan Management System (LMS) and Cincinnati-based Southwest Financial Services Ltd.'s (SFS') valuation services enables lenders to fully manage appraisals through an LMS for the first...
Comprehensive Appraisal Management Integrated into Xetus' Loan Management System
The integration of Palo Alto, California-based Xetus' Xetus One Loan Management System (LMS) and Cincinnatibased Southwest Financial Services Ltd.'s (SFS') valuation services enables lenders to fully manage appraisals through an LMS for the first time...
Ellie Mae Reports First-Quarter 2011 Results
Ellie Mae Inc., Pleasanton, California, a provider of software and automation solutions for mortgage bankers, community banks, credit unions and other mortgage lenders, has reported results for the quarter ended March 31, 2011. Total revenue for...
Ellie Mae Reports First-Quarter 2011 Results
Ellie Mae Inc., Pleasanton, California, a provider of software and automation solutions for mortgage bankers, community banks, credit unions and other mortgage lenders, has reported results for the quarter ended March 31, 201 1.Total revenue for the...
Extreme Appraisal Makeover
The appraisals you receive will be dramatically different in a matter of weeks. Here's what to expect.The government-sponsored enterprises' (GSEs') Uniform Mortgage Data Program (UMDP) and some of its mandates have recently landed in the public eye more...
Extreme Appraisal Makeover: The Appraisals You Receive Will Be Dramatically Different in a Matter of Weeks. Here's What to Expect
The government-sponsored enterprises' (GSEs') Uniform Mortgage Data Program (UMDP) and some of its mandates have recently landed in the public eye more frequently because we're getting closer and closer to the implementation deadlines. But for most...
Fannie and Freddie Show Markedly Different Results for Q1 2011
Analysts with research firm Keefe, Bruyette & Woods Inc. (KBW), New York, published a research note in late May underscoring what they see as sharply different financial performance trends for Fannie Mae and Freddie Mac that were evident in reported...
Fannie and Freddie Show Markedly Different Results for Q1 2011
Analysts with research firm Keefe, Bruyette & Woods Inc. (KBW), New York, published a research note in late May underscoring what they see as sharply different financial performance trends for Fannie Mae and Freddie Mac that were evident in reported...
Four Questions I'd like to Ask Decision-Makers before They 'Fix' Our Industry
At the halfway point; it's clear that 2011 is going to be a very challenging year for originations. Inside Mortgage Finance reported that first-quarter originations were down by 35 percent; a drop that almost matched the plunge at the onset of the...
HFF Arranges $134.76 Million on 13-Property Mixed-Use Portfolio
Holliday Fenoglio Fowler (HFF) arranged more than $384.3 million in financing, including $134.76 million secured on a 13-property mixed-use portfolio. The 13 properties include industrial, office, multifamily housing and retail in eight states with...
High Anxiety
National mortgage licensing. Loan officer compensation. Definitions for Qualified Residential Mortgages (QRM), qualified mortgages and systemically risky institutions. Risk retention. Changes to the Home Ownership and Equity Protection Act (HOEPA),...
High-End Hotels Lead Industry Rebound
Luxury and upscale properties are driving a hotel industry rebound that began last summer. "Hotel industry fundamentals are improving, there is little new supply and there is virtually unlimited equity on the sidelines," said Jim Butler, chairman...
Housing Activity
Residential Structures (Thousands of Units, SAAR) BY TYPE OF UNIT HOUSING STARTS BUILDING PERMITS Total Single- Multi- Total Single- Multi- Northeast Family ...
Key Economic Indicators and Interest Rates
CONSUMER PRICES, YEAR-OVER-YEAR CHANGE (%) CHANGE IN UNEMPLOYMENT ALL ITEMS ALL ITEMS PAYROLL RATE (%)...
LoanSifter Releases Automated Safe Harbor Disclosure Document to Verify Reg Z Compliance
LoanSifter, Appleton, Wisconsin, a complete product and real-time pricing platform, is now providing additional assurance for lenders to maintain compliance with federal Truth-in-Lending Act changes through an exclusive automated safe harbor disclosure...
LoanSifter Releases Automated Safe Harbor Disclosure Document to Verify Reg Z Compliance
LoanSifter, Appleton, Wisconsin, a complete product and real-time pricing platform, is now providing additional assurance for lenders to maintain compliance with tederai Truth in-Lending Act changes through an exclusive automated safe harbor disclosure...
Local Programs Maintain Housing for Aging, Report Says
Low-income aging Americans, faced with the threat of having to move from their communities, could stay in those communities through local assistance and innovative programs, according to The Maturing of America--Communities Moving Forward for an Aging...
Losses Lingering in the Pipeline
There's a worrisome cycle that can play out when considering the relationship between delinquencies and home prices. We know that the equity position of a borrower has an impact on the likelihood of default. On top of that, high levels of default combined...
Market Trends Overview by State
Market Trends Overview by State (March 2011 Data, Ranked Worst to Best by Foreclosure Rate--Includes District of Columbia) Rank State Foreclosure Foreclosure REO REO Rate 90+ Day Rate Rate 12 Rate 12 Months...
May Housing Scorecard Highlights Performance Data on 10 Large Servicers
The May Housing Scorecard released by the Obama administration shows data on servicers, including their average speed to answer calls from homeowners and the complaint rate on specific servicers to the HOPE [TM] Hotline. Also highlighted are numbers...
May Housing Scorecard Highlights Performance Data on 10 Large Servicers
The May Housing Scorecard released by the Obama administration shows data on servicers, including their average speed to answer calls from homeowners and the complaint rate on specific servicers to the HOPE(TM) Hotline. Also highlighted are numbers on...
MBA Q1 Commercial/multifamily Mortgage Delinquency Rates 'Mixed'
DelinqLiency rates among different commercial/multifamily mortgage investor groups proved mixed in the first quarter, according to the Mortgage Bankers Association's (MBA's) quarterly Commercial/Multifamily Delinquency Report.MBA said the delinquency...
MBA Q1 Commercial/multifamity Mortgage Delinquency Rates 'Mixed'
Delinquency rates among different commercial/multifamily mortgage investor groups proved mixed in the first quarter, according to the Mortgage Bankers Association's (MBA's) quarterly Commercial/Multifamily Delinquency Report MBA said the delinquency...
Mortgage Applications Indexes Mortgage Bankers Association (MBA)
MARKET COMPOSITES (Unadjusted) Market Purchase Refinance FRM ARM Market Index index Index Index Index index MAY-10 635.7 237.6 2,952.0 626.8 828.6 605.0 JUNE-10...
Multifamily Capitalizes on Weak Housing Markets
Single-family market losses could translate into multifamily housing gains, particularly in southern California, Phoenix and Las Vegas. Kevin Burkhalter, senior vice president with Irvine, California-based Johnson Capital's Los Angeles office, said...
National Home Prices Now at 2000 Levels
Clear Capital, Truckee, California, released its May 2011 Home Data Index (HDI) Market Report on June 9, and it showed a yearly decline in national home prices of 7.6 percent. The quarter-over-quarter decline in national prices was 2.3 percent. One...
National Home Prices Now at 2000 Levels
Clear Capital, Truckee, California, released its May 201 1 Home Data Index (HDl) Market Report on June 9, and it showed a yearly decline in national home prices of 7.6 percent. The quarter-over-quarter decline in national prices was 2.3 percent. One...
'New Normal' Plagues Housing
Low rates usually lead to booming originations for the mortgage industry. But even as Freddie Mac reported long-term rates dropping to their 2011 lows early in June, the government-sponsored enterprise (GSE) also reiterated its forecast that single-family...
Nonperforming CRE Loans Trip Up Failing Banks
Commercial real estate (CRE) loans, including construction and land, represented the largest source of nonper-forming loans for five failed banks in May, according to Trepp LLC, New York. Trepp's Bank Failure Report said construction and land loans...
People
Brian Simon has been appointed chief executive officer and Michael Massella has been appointed senior vice president, wholesale production, for Caliber Funding LLC in Irving, Texas. Tod Lickerman has been appointed chief executive officer of Americas...
Q&A with Senator Kay Hagan
Senator Kay Hagan talks about the bipartisan amendment she and two other senators got added to the Dodd-Frank Act to create a Qualified Residential Mortgage exception to the risk-retention rule.Sen. Kay Hagan (D-North Carolina) a member of the Committee...
Q&A with Senator Kay Hagan: Senator Kay Hagan Talks about the Bipartisan Amendment She and Two Other Senators Got Added to the Dodd-Frank Act to Create a Qualified Residential Mortgage Exception to the Risk-Retention Rule
Sen. Kay Hagan (D-North Carolina) a member of the Committee on Banking, Housing and Urban Affairs, was elected in 2008, defeating Republican incumbent Elizabeth Dole, who had served one term. * Hagan was born in Shelby, North Carolina. Her father was...
Ranieri, Rosen Offer 'Plan B' for Fixing Housing Mess
Washington policymakers are not exactly getting a vote of confidence for their response to the ongoing housing market crisis from two very influential corners. One is legendary pioneer of the mortgage-backed securities (MBS) market, Lewis Ranieri--who,...
Ranieri, Rosen Offer 'Plan B' for Fixing Housing Mess
Washington policymakers are not exactly getting a vote of confidence for their response to the ongoing housing market crisis from two very influential corners. One is legendary pioneer of the mortgage-backed securities (MBS) market, Lewis Ranieri - who,...
Reverse Servicing Issues Make Process Complex
Reverse mortgages have received quite a bit of attention in the last few years, especially as the "forward" mortgage sector has experienced a significant fall-off in originations. And with more contraction expected for the near term--a Mortgage Bankers...
Safeguard Properties Partners with American Association of Code Enforcement
In order to maintain vacant properties and the integrity of local neighborhoods; involvement and partnership between municipalities and servicers is imperative, according to Valley View, Ohio-based Safeguard Properties. Safeguard is a field services...
Safeguard Properties Partners with American Association of Code Enforcement
In order to maintain vacant properties and the integrity of local neighborhoods, involvement and partnership between municipalities and servicers is imperative, according to Valley View, Ohio-based Safeguard Properties. Safeguard is a field services...
Short-Sale Study Shows Fraud Risks Climbing
A new study from CoreLogic, Santa Ana, California, shows that potential losses from suspicious short-sale transactions are substantial and rising. The research study, titled CoreLogic Analysis on Short Sale Trends, Risks and Opportunities, found potential...
Short-Sale Study Shows Fraud Risks Climbing
Anew study from CoreLogic, Santa Ana, California, shows that potential losses from suspicious short-sale transactions are substantial and rising. The research study, titled CoreLogic Analysis on Short Sale Trends, Risks and Opportunities, found potential...
Slight Decline in Negative-Equity Share in First-Quarter 2011
CoreLogic, Santa Ana, California, reported on June 7 that the nation's share of home mortgages in negative-equity territory slipped ever so slightly at the end of the first quarter to 22.7 percent. That was down from the 23.1 percent of all residential...
Slight Decline in Negative-Equity Share in First-Quarter 2011
CoreLogic, Santa Ana, California, reported on June 7 that the nation's share of home mortgages in negative-equity territory slipped ever so slightly at the end of the first quarter to 22.7 percent. That was down from the 23.1 percent of all residential...
Teaching Form Experience: A Husband-and-Wife Team Took an Idea about Building a Training Company and Built a Business Whose Annual Revenues More Than Tripled from 2009 to 2011
Heat from the tarmac seeps through the soles of the young man's boots. * The 22-year-old walks with a confident gait, his gaze steady and focused as he approaches the sleek, silver war machine. * Stepping onto the aircraft, he pauses. The moment feels...
Teaching from Experience
A husband-and-wife team took an idea about building a training company and built a business whose annual revenues more than tripled from 2009 to 2011.Heat from the tarmac seeps through the soles of the young man's boots. The 22-year-old walks with a...
The Credit Box
Just when the market could use a little more help in getting new buyers into the mix, things have started moving in the other direction. Federal regulators defied the direct intent of Dodd-Frank lawmakers and wrote a proposed rule for Qualified Residential...
The RISKS of Risk Retention
There is a lot not to like about the proposed Qualified Residential Mortgage (QRM) definition. And regulators are hearing all about it.It was regulatory whipsaw. * The mortgage industry was looking for clarity and regulatory restraint in new rules to...
The Risks of Risk Retention: There Is a Lot Not to like about the Proposed Qualified Residential Mortgage (QRM) Definition. and Regulators Are Hearing All about It
It was regulatory whipsaw. * The mortgage industry was looking for clarity and regulatory restraint in new rules to govern how and when sponsors would need to keep 5 percent of the credit risk in new securitizations of mortgages in order to better...
The Ticker
Company Ticker Price Price 52-Week 52-Week Symbol Close Close High Low 5/31/11 4/30/11 BB&T Corp. BBT 27.54 26.92 31.20 21.72 PulteGroup PHM 8.44 8.13...
The Upside of the Loan
Demands for higher-quality loans and more accurate data are on the rise. The good news is there are solutions to help comply with the burgeoning requirements.Loan quality for new mortgage loan originations has become an area of tremendous focus for investors...
The Upside of the Loan Quality Initiative: Demands for Higher-Quality Loans and More Accurate Data Are on the Rise. the Good News Is There Are Solutions to Help Comply with the Burgeoning Requirements
Loan quality for new mortgage loan originations has become an area of tremendous focus for investors and lenders alike. The need to strengthen the ability to originate higher-quality loans and to reduce the historical levels of repurchase requests...
TOP 10 Considerations When Buying POS TECHNOLOGY
Thinking of adopting "smart," online mortgage point-of-sale technology? Here's a list of the top 10 things to consider before you buy.Whatever failures I have known, whatever errors I have committed, whatever follies I have witnessed . . . have been...
Top 10 Considerations When Buying POS Technology: Thinking of Adopting "Smart," Online Mortgage Point-of-Sale Technology? Here's a List of the Top 10 Things to Consider before You Buy
"Whatever failures I have known, whatever errors I have committed, whatever follies I have witnessed ... have been the consequence of action without thought." --BERNARD M. BARUCH, financier and political consultant (1870-1965) Americans love...
Top 25 Core-Based Statistical Areas-Sales Price Market Trends
Top 25 Core-Based Statistical Areas--Sales Price Market Trends (March 2011 Data, Ranked by Distressed Sales %) Rank CBSA Short Sales REO Sales Short Sales REO Sales (Average (Average (% of Total [% of...
What about Government Dominance of the Housing Market?
At once extolling the strong performance of Freddie Mac's current loan portfolio, then suggesting government backing of mortgages should shrink considerably, Charles "Ed" Haldeman, chief executive officer of Freddie Mac, told an audience at Plano,...
What Downturn?
Some mortgage bankers are finding opportunity in new places even as the overall market does its double-dip. These lenders are branching into new markets, picking up experienced origination teams, offering localized product menus - all backed by the newest...
What Downturn? Some Mortgage Bankers Are Finding Opportunity in New Places Even as the Overall Market Does Its Double-Dip. These Lenders Are Branching into New Markets, Picking Up Experienced Origination Teams, Offering Localized Product Menus-All Backed by the Newest Technology
The mortgage market may be down, with major and other lenders not only reducing staff but also closing branch offices. However, some small and mid-size mortgage banking and retail banking companies are actively opening new offices as well as hiring...
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